JAKARTA. PT Bank Jtrust Indonesia Tbk (BCIC) will arrange a capital raise with pre-emptive rights, also known as rights issue.

The number of shares issued by BCIC in this corporate action is 4.67 billion units, which are equal to 20.51% of BCIC’s total issued and paid-up capital after rights issue.

Each share has a face value of IDR 100 and will be offered for IDR 300 per share. With this offering price, the company will potentially collect IDR 1.4 trillion of fresh funds at the end of this rights issue.

J Trust Co. Ltd., the controlling shareholder of BCIC, will exercise 3.34 billion shares of its portion in this rights issue. The unclaimed pre-emptive rights will be allocated to other investors.

Then, J Trust Asia Pte. Ltd., the owner of 19.32% of BCIC’s shares, has declared not to take part and exercise its rights. Similarly, PT JTrust Investment Indonesia as the owner of 2.28% of BCIC also refuses to exercise its rights over allocated pre-emptive portion.

The distribution of pre-emptive rights of BCIC is set to take place on October 4, 2023, while the listing of new shares on Indonesia Stock Exchange (IDX) is scheduled to follow on October 3, 2023. (KR/ZH)